Go ahead with house purchase in 2023 despite high loan rates

By the time interest rates moderate, prices could move higher

Premium

Housing sales in the top seven cities scaled a new peak of 364,900 units in 2022, up 54 per cent year-on-year (Y-o-Y), according to ANAROCK Research.

Sanjay Kumar Singh New Delhi
The housing market revived in 2022 after a long period of stagnation. As sales rose, prices moved up, albeit at a sedate pace. The positive momentum is expected to continue in 2023.

Decisive revival

Housing sales in the top seven cities scaled a new peak of 364,900 units in 2022, up 54 per cent year-on-year (Y-o-Y), according to ANAROCK Research. Sales surpassed the previous peak of 3.43 lakh units seen in 2014.

Prices, too, moved up. The current average price across the country’s top seven cities is Rs 5,991 per sq. ft, up 8 per cent over the past five years. “2022 saw the maximum yearly rise of 5 per cent in average property prices compared to

First Published: Dec 27 2022 | 4:44 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com